TÜBINGEN, Germany—Immatics Biotechnologies GmbH, a clinical-stage biopharmaceutical company active in the discovery and development of T cell-redirecting cancer immunotherapies, announced in July that it had entered into a research collaboration and license agreement with Genmab A/S to develop next-generation, T cell-engaging, bispecific immunotherapies targeting multiple cancer indications.

The companies will conduct joint research, funded by Genmab, to combine Immatics’ XPRESIDENT and Bispecific TCR technology platforms with Genmab’s proprietary antibody technologies to develop multiple bispecific immunotherapies in oncology. The companies will exclusively discover and develop immunotherapies directed against three proprietary targets, which were discovered and developed by Immatics’ XPRESIDENT technology. Genmab has the option to exclusively license up to two additional targets to expand the partnership at predetermined economics.

Genmab will be responsible for development, manufacturing and worldwide commercialization. Immatics will have an option to contribute certain promotion efforts at predetermined levels in selected countries in the European Union.

Under the terms of the agreement, Immatics will receive an upfront fee of $54 million and is eligible to receive up to $550 million in development, regulatory and commercial milestone payments for each product and tiered royalties up to a double-digit percentage of net sales.

“This collaboration with Immatics gives us the opportunity to combine our unique technologies and expertise to create differentiated novel next-generation therapies. We very much look forward to this exciting partnership in the field of cancer immunotherapy,” added Dr. Jan van de Winkel, CEO of Genmab.